Welcome to our dedicated page for Schlumberger news (Ticker: SLB), a resource for investors and traders seeking the latest updates and insights on Schlumberger stock.
Schlumberger Limited (SLB) is a global leader in providing technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Operating in more than 85 countries and employing a diverse workforce of over 140 nationalities, Schlumberger offers a comprehensive range of products and services. These extend from exploration through to production, including integrated pore-to-pipeline solutions that enhance hydrocarbon recovery and optimize reservoir performance.
SLB is the largest oilfield service company in the world, renowned for its expertise in various disciplines such as reservoir performance, well construction, and production enhancement. In recent years, SLB has also ventured into digital solutions, maintaining its status as a leading innovator in the industry. This continuous innovation has helped the company secure a dominant share in numerous end markets.
Among its recent achievements, Schlumberger has made significant advancements in digital technology and sustainability efforts. Their cutting-edge digital platforms aim to transform the way oil and gas operations are conducted, enhancing efficiency and reducing environmental impact.
Financially, SLB has demonstrated resilience and growth, marked by robust quarterly earnings and strategic partnerships. The company remains committed to driving progress in the oil and gas industry, making it an attractive option for investors looking for stability and innovation.
Stay updated on the latest developments, financial performance, and projects of Schlumberger Limited by visiting their official website or following the latest news releases.
SLB, formerly Schlumberger, has rebranded to emphasize its commitment to energy innovation and decarbonization. This strategic shift reflects the company's transformation from an oilfield services provider to a technology-driven energy leader, focusing on sustainable solutions. The new identity includes a refreshed logo and highlights SLB's ongoing initiatives in low-carbon technologies, such as its New Energy business and emission reduction strategies. CEO Olivier Le Peuch stated that balancing energy affordability and sustainability is critical for the company's future.
Schlumberger Limited (SLB) reported strong third-quarter results for 2022, with revenue of $7.5 billion, a 10% sequential and 28% year-on-year growth. International revenue surged 13% sequentially and 26% year-on-year to $5.9 billion. GAAP EPS was $0.63, down 6% sequentially but up 62% year-on-year. Free cash flow reached $1.1 billion. The company approved a quarterly cash dividend of $0.175 per share. CEOL Olivier Le Peuch highlighted strong growth across divisions, driven by Well Construction and Production Systems, underscoring an optimistic outlook for ongoing investments and technology adoption.
Schlumberger has partnered with RTI International to enhance its proprietary non-aqueous solvent (NAS) technology for carbon capture, significantly improving efficiency while reducing costs. This technology consumes 40% less energy and achieves over 99% CO2 capture efficiency from natural gas emissions, the highest reported for such applications. Schlumberger aims to leverage this collaboration to expand market opportunities globally, addressing the urgent need for effective carbon capture solutions amidst rising emissions.
Schlumberger announced a partnership with Gradiant to enhance sustainability in lithium production. This collaboration integrates Gradiant's advanced technology into Schlumberger's NeoLith Energy direct lithium extraction process, aiming to improve mineral recovery while reducing environmental impact. Key benefits noted include reduced time-to-market, lower carbon emissions, and decreased water consumption. The partnership positions Schlumberger to meet rising lithium demand sustainably, leveraging machine learning and digital technology for efficiency.
Schlumberger has been chosen by Wintershall Dea as the preferred partner for its Terra Nova subsurface transformation program. This collaboration will utilize Schlumberger's open-source DELFI Data Ecosystem on the OSDU platform to enhance data accessibility and decision-making efficiencies. The contract spans one year, focusing on integrating data management solutions with Microsoft Azure. Schlumberger's contribution to the OSDU platform is set to unlock significant value, marking a pivotal step in Wintershall Dea's data-driven strategy.
Schlumberger has launched the Enterprise Data Solution, powered by Microsoft Energy Data Services, aiming to transform data accessibility in the energy industry. This platform aligns with the OSDU™ Technical Standard, enabling integration across various vendor technologies. Early adopters include PETRONAS and Chevron, which have improved data management and operational efficiency. The solution emphasizes AI-driven decision-making and supports the energy transition by facilitating carbon capture initiatives.
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Schlumberger has introduced its Digital Platform Partner Program, enabling independent software vendors (ISVs) to develop and market new applications via its open digital platform. This initiative allows Schlumberger customers to access a diverse range of interoperable digital solutions, enhancing data-driven decision-making across the energy sector.
Currently, nine ISVs are involved, focusing on various workflows related to reservoir engineering, carbon capture, and optimization. The initiative aims to embody a connected ecosystem that drives innovation and business performance improvement.
Schlumberger (NYSE: SLB) announced a strategic partnership with Cognite to integrate its Enterprise Data Solution with Cognite Data Fusion®, enhancing operational data usage in the energy sector. This collaboration aims to streamline data from reservoirs and wells onto a unified platform, utilizing AI and analytics to optimize production, reduce costs, and support sustainability goals. The initial focus will be on improving production operations, providing customers with enhanced management of data models and quicker time to value.
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